UK Measured Economic Policy Uncertainty In Context
In some ways, policy uncertainty — at least as measured using text — is not as bad as I would’ve thought. Here’s the Baker-Bloom-Davis index:
Figure 1: UK Economic Policy Uncertainty (blue), and centered 7 day moving average (red). ECRI defined recession dates shaded gray. Source: policyuncertainty.com, ECRI and author’s calculations.
The 9/27 value of 732 is way below the Brexit referendum value of 2661. On the other hand…tomorrow is another day!
More By This Author:
Yield Curve Inversions In The UKReserve Currency Status Is No Vaccination Against Recklessness – UK Edition
Q3 Growth Vs. Benchmark Revisions
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